Absolute Systems Acquires Security Division of Texas Telephone Cooperative

KANSAS CITY, Mo. — Absolute Systems, based here, recently acquired the security division of Hill Country Telephone Cooperative (HCTC) of Ingram, Texas, for an undisclosed amount.

Alarm Financial Services (AFS) provided financing in the form of a term loan for the transaction. The acquisition commences a partnership between Absolute Systems and HCTC to meet the security needs for HCTC’s commercial and residential customers.

Absolute Systems and its owner, Scotty Rhoads, have been providing residential and commercial security systems and services in Kansas City since 2009. The company expanded to Houston and San Antonio, Texas, in 2017.

HCTC is an Internet and phone service company with a focus on keeping rural Texans connected. The cooperative provides telecommunications products and services for both residential and commercial accounts. HCTC services 15 counties across 3,000 square miles of rural Texas.

Absolute Systems has been providing maintenance and repair services to HCTC customers for the past few years. When the opportunity arose to acquire the security division, Absolute was in a unique position to expand its relationship with HCTC and its customer base, according to an announcement.

“We are excited for the opportunity to expand our coverage into the Hill Country. We are looking forward to bringing our service and expertise to our new customers,” says Rhoads.

Scott Link, COO of HCTC, comments, “Scotty and his team will bring the focused approach that is needed to not only maintain security coverage but expand options for our members as well.”

AFS President Jim Wooster explains the partnership will provide a great opportunity for Absolute to leverage its experience as a provider of subcontracted service and grow its recurring revenue monitoring business.

“This is another example of a growing trend where forward-looking small- to medium-sized alarm companies are using their RMR to obtain capital for growth,” Wooster continues.

The post Absolute Systems Acquires Security Division of Texas Telephone Cooperative appeared first on Security Sales & Integration.



from News Archives - Security Sales & Integration https://www.securitysales.com/business/mergers/absolute-systems-acquires-security-division-texas-telephone-cooperative/
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Total Tech Summit Puts Call Out for Top Integrators to Apply Now

Image
FRAMINGHAM, Mass. — Total Tech Summit announces that applications are now being accepted to attend this year’s event. Comprised of the  SSI Summit, CE Pro Summit and Commercial Integrator Summit, this year’s event will take place in Las Vegas at the MGM Grand Hotel and Casino, Nov. 13-15. At this all-expense-paid, exclusive event, VIP guests will have the chance to sit in on industry-defining sessions, key boardroom presentations, and be able to meet one-on-one with potential vendors. Total Tech Summit brings together the best in class to share ideas, learn from others, and most importantly, accelerating the next stage of their businesses. It is the only event of its kind that bridges channels and connections by bringing together professional security, commercial AV and residential AV integrators. Another perk of the Total Tech Summit is the VIP Peer-to-Peer groups. These group conversations take place throughout the months leading up to the event and are guided by the edi...
Read more

Minnesota AG Calls for Cancellation of Home Security Contracts for Alleged Fraud

STEARNS COUNTY, Minn. — Bring Me the News reports that Minnesota’s Attorney General, Keith Ellison, says he’s gotten consumers in Stearns County out of home security contracts after they were misled by a door-to-door salesman. According to the report, Ellison’s office announced that home security companies Skyline Security Management and Safe Home Security have agreed to their cancel contracts with customers in and around Stearns County who purchased their systems from door-to-door salesman Gary Harvey. “Door-to-door salesmen and their employers are in the business of trust-building,” Ellison said in a statement. “They know they need to have your trust to sell you their products, particularly expensive products like security systems that are supposed to keep your home safe. When that trust is betrayed, it’s emotionally and financially painful. I appreciate Skyline and Safe Home taking the right step in canceling these contracts while my office does what we can under the law to ho...
Read more

Evolv Technology, Pittsburgh Pirates Team Up for Fan-Friendly Ballpark Security

Image
WALTHAM, Mass.—Evolv Technology has announced its partnership with Major League Baseball’s Pittsburgh Pirates, adding to the growing list of Pittsburgh, Pa. venues that have teamed up with Evolv to help keep people safe, including the Pittsburgh Cultural Trust and Acrisure Stadium, home of the Pittsburgh Steelers. When the Pirates opened the gates at PNC Park for the 2023 MLB season in early April, all attending fans passed through Evolv’s state-of-the-art Evolv Express screening solution, which uses sensor technology with artificial intelligence (AI) to provide safer, more accurate threat detection at unprecedented volume and speed, the company states. Fans can now walk through without always having to stop or open bags, reducing long lines and allowing guests to make their way directly into the ballpark. “What continues to make PNC Park so special, aside from the physical design, is the total fan experience. That begins from the moment they walk up to our gates,” said Travis Willi...
Read more